Buying Land Guide

BUYING VACANT LAND

YOUR GUIDE TO BUYING THE RIGHT PROPERTY FOR YOUR BUILD

www.HomesteadHomeGroup.com

Hello!

My name is Cat Larrow and I’m the designated broker at Terry Wise and Associates - a real estate firm specializing in feasibility and land use. If you are in the process of buying your dream property, I’m here to help! With over a decade of experience helping my clients buy and sell vacant land, I’m here to be your trusted resource throughout the process. Feel free to reach out anytime for a customized land search or for in-depth feasibility consulting. I look forward to working with you!

Cat Larrow

HomesteadHomeGroup.com Cat@HomesteadHomeGroup.com 253-878-2130

YOU’RE BUYING DIRT DIG INTO THE DETAILS Finding the land you love is only the first step! Now we need to find out IF you can build, where you can build and what you can build on your dream lot. From analyzing the land's unique characteristics to navigating zoning regulations and local ordinances, we've got you covered!

Your Preliminary Analysis Includes:

If you purchase your land with my team, we provide a Preliminary Analysis of the property free of charge.

*Full feasibility studies are available at an additional charge.

A site analysis Cautionary analysis Zoning and land use analysis Pertinent Document Review Preliminary Valuation Report

GETTING STARTED CHECKLIST 01

READ AND UNDERSTAND YOUR PURCHASE AGREEMENT AND TIMELINES FOR RESEARCH

02

READ THE TITLE REPORT AND EVALUATE LISTED EXCEPTIONS

03

RESEARCH LOCAL UTILITY PROVIDERS

04

TALK TO NEIGHBORS AND LOCALS ABOUT THE AREA AND PROPERTY

05

RESEARCH SCHOOLS

06

RESEARCH CRIME RATES

07

RESEARCH PROXIMITY TO HOSPITALS ETC.

08

RESEARCH LOCAL REAL ESTATE MARKET TRENDS AND DEMAND

DOING YOUR OWN RESEARCH? Start Here Address: Parcel ID Number: Local Building Jurisdiction: Zoning Code:

****A list of jurisdiction specific online resources for land research is available from my team upon request.

Some Questions to get you started: Has the property been surveyed?

What studies have already been done?

Are there expected wetlands? Are there confirmed wetlands? - What categories and buffers exist?

Is the property in a floodzone? - Will flood insurance be required for a new home? - If so, cost?

Is the property in a special tax designation? If so, what type and will you be signing a continuance at closing?

Is there any protected wildlife on the property? Are studies required to confirm this?

Are there any sloping or soil issues?

Will studies be required to find out?

Is there a well on the property? Have water flow and quality tests been performed? Are there existing records with the health department?

Are there any special environmental requirements for this lot?

Are there any building moratoriums in place?

More to Know: Will the property require a septic system? If so, has a recent perc test been completed? What kind of system can be installed?

Is there an existing septic already on site? If so, is there an as-built on file, has it been pumped and inspected?

What is the age and will the jursidiction allow connection to this system?

Does the property need to be connected to sewer? If so, how far away is it and what would the cost be to connect?

What are future plans and potential zoning changes for the area? How would those changes affect use and value?

What utilities currently serve the property?

Are there any covenants, conditions or restrictions that would affect the use of this property?

Are there any easements, encroachments or title concerns?

Can the lot be subdivided?

What are the building setbacks?

More to Know: What permits are going to be required to develop the land?

What impact fees are going to be required to develop the land?

Are there any water rights associated with the property?

Who owns the neighboring properties?

Do they have future development plans?

What are the annual taxes for the property? How will that change when a home is built - what are neighbors annual taxes?

Has there been any dumping or other environmental concerns?

What is the value of the timber? Are there any protected trees?

Is there an HOA?

Are manufactured homes allowed?

Are there any parcel alerts or compliance issues?

What additional recorded documents are available on the property?

Who to Contact With Your Questions: Your Real Estate Agent: Cat Larrow with Homestead Home Group at Terry Wise and Associates and Title Company: Your agent and title company can give you access to the title report to find out about CCRS, HOA Info, encroachments, easements and anything else recorded on title regarding the property. Your agent can give you general property information that is available from the seller, online resources and from tax records. Your agent will also be able to provide the Seller Disclosure Statement where you can review what seller knows about the property.

The Building Jurisdiction: -County, City or Town etc.

The County (or City or Town) will be a main point of contact for finding out about the suitability of the land for what you plan to do. You will want to make an appointment or walk in and bring with you the Tax ID number and property address as well as whatever information you have about your plans for the property. Most of the information you can't get from your agent or title company can be found with the building department of your local jurisdiction.

The Health Department__________ For information on existing wells and septic systems the health department has many records that would be available on the property.

Costs To Find Out: Cost of Land __________________

Environmental Studies __________________ Geotech Studies __________________ Septic Inspections - If Existing __________________ Permitting and Impact Fees __________________

Closing Costs __________________ Survey __________________ Perc Test __________________ Wetland Delineation __________________ Well Testing __________________

Other Expenses:

**All properties are different and require different studies and feasibility work. The studies you complete and the questions you should ask will vary based on what you plan to do with the land as well as the requirements of the jurisdiction. Terry Wise and Associates and Homestead Home Group do not make any representations about the completeness of this checklist and encourages all clients to conduct their own research.

REACH OUT! CALL CAT LARROW 253-878-2130 CAT@HOMESTEADHOMEGROUP.COM

VISIT US AT: TERRYWISERE.COM HOMESTEADHOMEGROUP.COM

@HomesteadHomeGroup